Category: Regulatory

The Case: Stefan Bollinger, CEO of Zurich-based private bank Julius Bär, has called for the creation of a Swiss register for bankers involved in misconduct. The Commentary: “The advantages of registering financial market participants are obvious,” Bollinger told NZZ am Sonntag. “It would prevent black sheep from simply moving elsewhere…

The Case: The Treasury Department’s latest report shows that Swiss National Bank (SNB) is remaining on the US watch list for potential currency manipulation. The Commentary: The SNB denied the claims, stating that it does not manipulate the franc to prevent balance-of-payments adjustments or gain an unfair economic advantage.

The Case: The bitcoin has been caught in a downward trend for months – and the speed at which the price has been eroding has picked up. The Commentary: According to analysts the bearish trend can be attributed mainly to the massive sale of ETFs. Last November, more than USD…

The Case: The business community supports the introduction of a transparency register and effective measures to combat money laundering, though the draft Transparency and Anti-Money Laundering Ordinances (TJPV and GwV) require substantial adjustments. The Commentary: Quite a number of business associations have been calling for greater legal certainty, proportionality and…

The Case: No Supreme Court decision has been made yet. The Commentary: The US Supreme Court has not yet issued a ruling on the legality of President Trump’s broad tariff program. A highly anticipated opinion that could either affirm or overturn lower-court findings has not been published this month so…

The Case: In 2024, the assets of Switzerland’s 1,292 pension funds increased to CHF 1,220.6 billion, up from CHF 1,129.1 billion in 2023. Net investment returns amounted to CHF 83.7 billion (2023: CHF 54.2 billion), leading to higher value fluctuation reserves and a further reduction in funding shortfalls.

The Case: Under the new framework, firms must independently conduct, document and justify their assessments so it can be determined whether a crypto token meets the Dubai Financial Services Authority’s (DFSA) regulatory criteria. Consequently, the DFSA will no longer maintain or publish a list of Recognised Crypto Tokens.

The Case: Based on the risk analysis, the Financial Market Authority Liechtenstein (FMA) has defined its supervisory priorities for 2026. The Commentary: Its supervisory activities allow the FMA to ensure that financial intermediaries effectively manage potential risks. One key aspect is the assessment of the risk landscape for both the…

The Case: In the speech he delivered in Zurich yesterday, UBS CEO Sergio Ermotti outlined four key demands for Switzerland. The Commentary: Geopolitical Strategy: In a fragmented world, Switzerland ought to adopt a smart and balanced geopolitical stance, cultivate partnerships with all major economic blocs, resolve its issues with the…

The Case: According to a report by the Swiss Federal Audit Office (SFAO), the use of artificial intelligence (AI) in the supervisory activities of the Swiss Financial Market Supervisory Authority (FINMA) was examined. The Commentary: FINMA is the central supervisory authority for the Swiss financial market, overseeing around 30,000 financial…

The Case: The Federal Tax Administration (FTA) has updated its guidelines on the standard for the Automatic Exchange of Information (AEOI) in tax matters relating to financial accounts; status as of 15 January 2026. The Commentary: Switzerland has entered AEOI agreements with 101 partner countries. The automatic exchange currently covers…

The Case: The Swiss Financial Market Supervisory Authority (FINMA) has issued a new supervisory bulletin outlining how it evaluates the risks associated with the custody of crypto-based assets. The Commentary: The bulletin specifies the requirements that institutions must meet to ensure the secure storage of crypto assets. Secure custody requires…